We Need Your Help!
VOTING PERIOD ENDS IN 5 DAYS
As you are aware, the large majority of our funds became frozen when a vulnerability was exploited in Parity’s multi-signature wallet software. Although we have continued to work on building Musiconomi, this obviously has had a tremendous affect our ability to execute.
Yesterday, the creators of etherchain.org setup an unofficial vote to measure community support for a proposal (EIP-999) to restore access to the frozen funds.
Today is your opportunity to vote here: etherchain.org/coinvote/poll/35
As the process can be a little intimidating and technical, we put together a step-by-step document on how to vote here.
The vote is non-binding but may serve as an important data point. Although each vote is weighted by the total amount of ETH, the number of votes will also be seen as a measure of the vote’s legitimacy. So, even if you only have 0.1 ETH, please vote “YES” if you want to see the multi-signature funds unfrozen.
A Quick Recap of Events
In November of 2017, a bug was discovered and exploited in Parity’s multi-signature wallet software. This exploit affected nearly 600 multi-signature wallets from many projects (not just our own), which collectively hold a more than 500,000 ETH. Many of the affected projects are small startups like Musiconomi that had a vision and a motivated team, but required funds to execute.
To be clear, the funds were not stolen; no transfer of ETH or tokens took place, however they cannot be moved. A smart contract that many multi-signature wallets depended on was deleted from the blockchain.
The Funds can be Unfrozen
EIP-999 specifies a mechanism to unlock the frozen funds. From a technical perspective, the solution is quite simple: deploy a corrected version of the deleted smart contract. However, due to technical limitations, this cannot be done without a modification to the Ethereum client software.
This solution does not require the transfer any ETH or tokens and it does not require the creation of any new ETH; it simply restores the code that controls the logic of the multi-signature wallet.
